that is alibaba. of a new book from a former alibaba executive called the tao of alibaba, inside the digital giants changing the world. how did it take on the world and what is i have next? let's bring an author brian wong , former top alibaba but executive. you were the first american working at alibaba, 52nd employee, and special assistant to jack ma. we have seen -- you have seen some things. what is alibaba's and jack ma's secret sauce. brian: i wrote this book because i want to share what my understanding and perception was from the nearly 20 years i was with the company about the essence of jack ma and alibaba. to put it into basic terms, jack really was able to build a company around a very deep purpose of solving the world's problems. he created a culture that was very optimistic and positive. he was able to align an organization to focus on that mission. at the same time give them the flexibility to adapt to the constantly changing world and industry it was operating in an order to become suc

as you mentioned, alibaba growth has been the headline which is low single digits. put this in perspective. it was a 30% base last year and so now the base will get better going forward. if you compare this to tencent in the last three quarters, minus 2% minus 3% and then 0% just to put this in context, alibaba's $100 billion revenue business and $100 billion consumer business. there are few businesses in the world with that size and scale a singles day was flat that was $85 billion that is two times amazon holiday season sales the company, i would say with jd.com, the company is certainly going to witness fastering growth than alibaba. i would expect growth at 15% over the next three years. the company sales are not growing as fast, but i have not looked at recent earnings results. the net services line is growing faster i think my focus here is the free cash flow of both businesses which is how to the value a business >> so, sid, we have a few moments left here. let's take us through. the opportunity that has happened over the last year or year and a half in chine

you might, alibaba have that? i haven't done an in depth analysis, but ali baba surely pick to the age because it has a cargo airport with very high capacity. that's open. 247. leanne proper is the 4th most populous city in belgium. and the metro area is home to 600000 people. it used to be called the fiery city due to the many blast furnaces that once fueled the local economy. but like deuce book the city, a struggle to recover from the end of coal mining and the almost complete disappearance of the steel industry. in the 20 ten's, the unemployment rate sometimes exceeded 20 percent. the hope now is that the cargo airport with no nighttime restrictions will change things for good. it's quietly grown to become the 5th largest freight airport in europe. according to the operator, here to location has been a critical factor with increased commercial traffic going hand in hand with growth . it's a win win situation for both ali baba and the airport. i believe of arkell singer, ali baba is helping to develop trade wit

what stood out from alibaba's results? very strong margins across key businesses, such as the international commerce logistics, really set out from this results. the company may be able to continue to hold on to the leader can structure -- a structure for the rest of the year. haidi: what about the lift of margins through the rest of fiscal 2023, if we resume the number of covid infections as the rise? >> clearly, that's one of the swing factors. something i think the whole market is monitoring. we're seeing an easing of covid curves. yet, sentiment underground, with the number of cases rising, is igniting fears of the threat of the virus. that's not going to help sentiment or buying impulse in the near term. we will have to wait for the next one to two months for clearer signs, particularly as we step into the lunar new year. it's earlier in january, in a couple of weeks time to see whether that will be a trigger point for consumers -- consumer sentiment. kathleen: there's been a delay of alibaba was completion of a dual

it sells goods straight from manufacturer to consumer, or to distributors such as amazon and alibaba. with no middle men involved, this means complete control over the supply chain. stephano pull jani is head of integrated logistics at carries italian subsidiary etching. when he finally known you 5 years ago, we didn't have any online operations. doc was today. this entire section of the warehouse is for e commerce, anthony and suppliers not just from china, but elsewhere in eastern asia have played a huge part in put on there. but the chinese companies are naturally the most important ones. conveying both goods and trade secrets, things were thought that in magazine which this note of the warehouse has 2 areas that are unfortunately off limits for commer cruise, equally odd and we still there where we store material for the 5 g devices. of 2 major chinese manufactures. so filming is not what admitted for security reasons, liada the activities. there are very specific go right up to the assembly of those devices, sequestered highly sensitive chinese technology for the 5 g telecoms. ne

the alibaba affect, we have a bit of a conundrum with that. the mix. -- the federal reserve as ever in the mix. david: third day of gains with onshore china. it is offshore in hong kong that has outperformed the broader chandler -- china rally. it's an up arrow story across the board. stocks are up. also this yield story. we repriced it out, now we are re-pricing it in because the fed has reminded us they have not changed their tune. if only we listened to the fed. we are also getting numbers coming throughout of japan. core inflation came out nearly 3.6%. gdp numbers out of macau. oil closed below $90. brent, to be more specific. it is also about the yield story on the chinese mainland. yvonne: the biggest slump since 2016. a little more of that injection of the critique from the pboc. obviously they are watching this very closely. it seems like most people are saying we have seen some upward movement in yields but nowhere what we are seeing globally. we are not going to see material rebound. rishaad: also getting reports that the chinese aut

but masa -- again, the gain was from the alibaba shares.hey lost money in the vision fund and then masa said, looking at the current situation, regardless of public securities or private securities, almost all the investments we've made are not showing good performance. our vision fund suffered but not only us, investors around the world are also seeing the same situation because of the damage in the equity market went on to say during the call, i'm going to be focusing on arm holdings, which they own because they couldn't get that deal past regulators to sell to nvidia >> nvidia, i believe that the inventory of excess graphics cards that were used chiefly for gaming has almost been worked off. nvidia remains in a position for my travel trust. i do believe that this is a quarter that they can say, we have gotten the inventory behind us that was -- unfortunately, a lot of other companies like intel are not going to be able to say that, because they make chip for pcs, and they have not been able to get the inventory behind it >> that's the re

and the last day of the vendor were e commerce. firms like alibaba and j. d dot com hawk. everything from perfume to furniture. japanese tech investment giant soft bank pulse is posted a whopping net profit of more than $21000000000.00 in the 2nd quarter. on friday. the bank made big gains from selling shares and chinese e commerce trying alibaba warned of losses and its massive tax startup investor vision fund. now here's something you might not have known more than 20 percent of the peppers and cucumbers grown, and europe come from dutch greenhouses. producing 9000000000 euros of export value, they are a huge factor for the dutch economy. and the times a rising energy prices, gas heated greenhouses have turned into a problem. one that a pilot project in the south east of the netherlands, aims to solve the w's baba visa reports. these are the greenhouses of peter mine and, and for years his obsession has been to run them as environmentally friendly as possible. he specializes in sweet peppers and cucumbers and produces huge amounts of these such tools and toto. our compan

and chinese e commerce giant alibaba has reported a loss of $2900000000.00 for the 3rd quarter as the company grapples with an economy slow down and an anti monopoly crackdown. alibaba performance is widely seen as a gauge of sentiment in the chinese consumer sector, which is struggling as growth in the world's 2nd largest economy. sputter, british markets 7, stabilizing a day after the government released its new austerity budgets, the british pound, paired back. some of its losses from thursday, while the foot c, $100.00 began to deal with gains the budgets the 1st under the new government lays out a $55000000000.00 pounds worth of tax hikes and spending cuts. finance minister jeremy on says the belt tightening is necessary to reassure financial markets, but it's expected to worse than the countries cost of living crisis. earlier we spoke to d, w as long corresponding beg mars who underlined that despite the new budget financial problems for britons or mounting so the most vulnerable in society. and they will be protected by this voucher to a certain extent pension, as for example.

we've got ten cent music, alibaba among the biggest winners. do investors believe this bounce is sustainable. it's time to be buying after these stocks have sold off on a number of factors, including covid over the last year, so >> well, sara, what is clear is there are positive developments over the last 48 hours first, calling that meeting between china's leader, xi jinping, and president biden a modest success, and then you had china also stepping in to prop up its real estate sector, plus some evidence of beijing starting to relax its covid policies for the first time in two years, bank of america turning tactively constructive on china, which strategists say will help energy, industry, consumer stocks in china. what's interesting is that the latest 13 f filings show that hedge funds have been reducing their exposure trimming position by 20% david tepper reducing alibaba stake by 10% these are filings that ended on september 30th their position may have changed. the take away is they still need more evidence of this china reopening to call

alibaba has decided not to disclose full sales results for the first time.lysts had predicted that the figure would suffer. alibaba says gross merchandise valley was in line with last year's performance despite the covid related impact. sales last year reached $76.1 billion. haidi: softbank's ceo says he will no longer speak at the quarterly conference that he has led for decades. it posted a loss amid plunging starter valuations. during the latest earnings briefings he says he wants to focus on ship designing going public. -- ship designing going public. >> we will have to be more selective in the vision fund. shery: we have plenty more to come live from singapore, the lion city on daybreak australia. stay tuned. this is bloomberg. ♪ millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the

ed: i'm going to look at alibaba later.t is hard on a day when technology investors are focused on the fed and the outlook for rates to talk about the reasonable -- between names. six -- they are talking about job cuts. even with such a bullish outlook. we speak to their cfo shortly and that is a creek -- a key question. airbnb bringing new tools to expand inventory on the platform. the stock down 5%. amazon and tesla, the biggest rags on the nasdaq. crypto. crypto. that's the story right now. specific tokens starting to stabilize. solon are is an example. very much tied to the ftx empire, the token was trading at a 40 handle before this started. we have stabilized, but are not being pulled in the right direction. everyone in the story of ftx's collapse is wait and see because we do not extend -- we do not understand the extent to what is happening. caroline: exhausted from the tweets we have to read. let's talk about this collapse a little more. their new ceo has been slamming the nonexistent oversight in the misuse of cli

alibaba is up close to 5%. possibly more people in china are getting vaccinated and could be encouraging. you also have big commerce. those shares are higher. however, areas such as footlocker are sliding. we want to get back to the u.s. rail story. nancy pelosi saying legislation will be on the house floor tomorrow in an effort to prevent a strike. ian kullgren joins us now from d.c. thank you for being with us. can you take us through those rallying to get to the finish line versus those vocal in their opposition? ian: after weeks of silence the president finally made clear his position on this issue last night and today in meetings with congressional leaders. that is that the time for negotiation is over. congress needs to step in and pass a rail deal to avoid what could be a crippling train stoppage before the holidays. congressional leaders fell in line with that message and nancy pelosi says there will be a house vote tomorrow on the issue. she said it will essentially be clean. there will be no "poison p

people are looking for optimism and alibaba is one of the biggest companies. if they can draw a line under the troubles at alibaba and companies like tencent have had, that's a major turning point for companies in china. with the stock so far down, you could get serious money coming off the sidelines even before the end of the year. vonnie: thank you. let's get more on that story. reuters reporting the penalty could land in the second quarter of next year. annabelle has been tracking the details. could this be a possible end to the regulatory overhaul? annabelle: that would be the hope from front end investors who have been burned by this year's crack down on the tech sector. just going through the details on this reuters report -- the fine could be more than a billion dollars and it could come in the second quarter of next year. reuters has said the pboc is preparing the penalty. they have been in touch about this and no comment yet to us at bloomberg, but if it did appear, it would signal we are nearing the end of the crackdown. that kicked off with and bein

alibaba has decided not to disclose full sale results.have predicted that they would suffer a decline unprecedented in history. alibaba says gross merchandise value was in line with last year's performance. sales last year reached $76.1 billion. haidi: son says he will no longer speak at the quarterly earnings meetings he has led for decades. during softbank's most recent earnings brief, he said he wants to focus to take the chip designing arm public. shery: disney has announced a cost cutting drive. they have lower than expected quarterly profit. disney stock is down 39% this year. haidi: coming up next, we take you live to bali ahead of the first face-to-face meeting between the presidents of u.s. and china at the high-stakes g20 summit. this is bloomberg. ♪ (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real foo

alibaba down 1.7%. jd.com slipping 2% baidu slipping 2%. apple is down in pre-market trading. yes, we have the market factors, but internally as well as a leadership does this weaken him and in and amongst his contingent and leadership style >> it doesn't -- the vw news is significant. if you had disruption to the supply chain, you move it elsewhere. that was beginning to happen in 2016 vietnam has been a beneficiary i'm not saying that china is going to lose its manufacturing base because they have a manufacturing ecosystem that is present there. it does weaken his hand when people -- when you're the boss, you call the shots you also take all the blame. >> final question. how much of this is about covid and how much of this is about the economy? the two are hand-in-hand looking at the profits data that came out over weekend. they dropped 3% in the first ten months of 2022 china no longer publishing monthly data you only get data year to date lumped together. what is happening under the tent >> the pmi number for october that came out looked bad and blamed on covid. guess what

that's what we have for alibaba today. up around 2% now.t did pop as much a 6% at the start of trade, lifting the index. really, the optimism in asia today. we are seeing that based on covid zero policies and any sort of easing here. take a look at what we are seeing another benchmarks today. we are looking moderately high, focusing on the hang seng today. on track for a weekly gain here for the broader msci asia pacific index. goldman sachs as well upgrading their outlooks for china and korea. certainly that's the main trading sentiment. not so much the fed. tom: interesting. the upgrade for goldman sachs. thank you very much. let's get to our reporters from around the world. endocrine joins us for a look at the latest noises from fed officials. john step it has our breakdown. we've got the latest on crypto and ftx from stacy marie ishmael in singapore. let's start with ende karen. fed officials keep making the case for further rate hikes. he has the breakdown. we are hearing from james bullard, raising his view of 5.25% at the minimum. it

shery: alibaba is eat commerce -- e-commerce margins have been adjusted.tack -- china tech. we have just been through singles' day. indications of merger pressure -- margin pressure. >> for alibaba, everyone will watch the magnitude of cost cuts. from the results we have seen from tencent overnight, expectations are low for topline growth. as far as the cost structure of the company and whether it is sustainable through this year and into next amidst uncertainties and overhang we have on covid in china. shery: what can we expect in terms of share repurchases? >> tencent redistributing mates one shares as special dividends it's a highlight that analysts will wait to see if alibaba will up the repurchase program to match up in terms of returns to shareholders. i think to date they have repurchased or utilized more than 10% of the 25 billion share purchase program itself and to match up with tencent share buybacks we have seen through october, already a record high, alibaba might have to increase the package higher. we will see what happens tonight. haidi: wi

want a speculative stock now, thursday, while it starts like at 4:00 in the morning like ally bue alibaba. i think the chinese government wants a good number. they want american investors back in the stock market and need the money and, you know, the easiest way to lure americans back in is have alibaba have solid results and commentary shook off by the government it isn't the first sam freedman bank but i'm sick of trusting the chinese government alibaba will be hostage to the party. this quarter that might be good for them, next quarter might be bad. two tough ones, kohl's and gap kohl's preannounced an okay number, i don't want to stick around for the holiday projections as i do like the interim ceo who takes over next month, as for gap, it's incredibly inexpensive unfortunately, gap is fighting for its life in a contest and i don't want any part of that salvage mission but the one i do like is palo alto networks i recommend buying the stock, let's say it goes down on any day, buy this first if it dips this is the finest cybersecurity company out there and could have a monster quarter.

shares of alibaba jumping after the giant posted bet than expected earnings.ir up more than 30% in month and a trader is calling for this only a few weeks ago >> you go back and look at what happened to alibaba at fourth of july we talked about it leading up to it i think you have another situation where it is setting up for a trade at five times normal value volume and and think i could trade into earnings next week, mel. >> so now we're past earnings. what do you do, guy? >> prescient it is a trading call and we mentioned this looked family or similar to what we saw back on the fourth of july the volume suggested that the down side exhausted itself and you could see a rally of this magnitude. since 2020, october, this stock is gone from 310 down to 58 but you've seen seven, eight, nine, 30, 40, 50 rallies and how do you trade it now if we were fortunate to trade it around the $64 level which is october 24th, you have to take some money off the table and be disciplined. i think carter would say that as well personally i still think there is some upside here b

recession next year we got tech earnings from nvidia, cisco, and even alibaba.verconfident and careless, the words of sam bankman-fried in yet another tweet storm. we'll begin with stocks sinking in the market. a lot of this is coming on the heels of bullard's slide show in which he did say restrictive could mean 5 to 7% it's getting talked about quite a bit. >> i think that we have disparate views, lael b raraina the other day, it sows confusion and uncertainty. i listen to what bullard says, and my first reaction is, be very careful sell everything, raise cash. if you're looking for 7%, do something that is -- that says that things could go into a very severe recession and that they want it. and i'm not sure that that's wrong. i mean, look, if you want to break, you know, pull volker, did not care if he created a recession. he cared about making it so there was no inflation and bullard's got -- i think he's got a formula that says that things continue to go awry, this is a good idea. but then you have barry sternlicth this morning. i think anything's on the ta

the annual singles day shopping festival was started in 2009 by online retail giant alibaba as a chanceemselves. it's grown to be far bigger than black friday and this year, sales are expected to top the one trillion yuan milestone — that's about $140 billion — but some are predicting china's flagging economy and zero covid policy could take the shine off singles day this year. james yang is a partner at the consultants bain. he's in the chinese city of shenzen. thank you forjoining us today. what are your expectations of sales this singles day? will you be shopping yourself? the numbers coming in thus far have been decent, actually. looking at the pre— sales numbers between october 20 and november three, numbers between october 20 and novemberthree, it numbers between october 20 and november three, it was travelling at 334 billion which is up about 4% but you're right in the sense that we need to really check on whether the momentum will hold up through the entire sales period. all of the entire sales period. all of the eyeballs and attention is around singles day, whether it will hit

alibaba deciding not to disclose full sales results for its singles' day. said in a statement the gross value was in line with last years gm the performance, despite macro challenges and covid related impact. some forecasts say it could signal a decline unprecedented in the company's history. coming up, the metaverse. is it here to stay? is the height for real? about the here and now for you here in real life? what about your job? we are talking about that and more trends within technology with activate's michael wolf. mtv, consultant of old, we get his insights. this is bloomberg. ♪ so many people are overweight now, and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's release from golo. it naturally helps reverse insulin resistance, stops sugar cravings, and releases stubborn fat all while controlling stress and emotional eating. at last, a diet pill that actually works. go

now to some of the other global business stories making news. china's alibaba lost nearly $3000000000.00 in the 3rd quarter. the company has reported the e commerce giant has been grappling with an economic slowdown and an, and an anti monopoly crackdown. pardon me? ali baba performance is widely seen as a gauge of sentiment in the chinese consumer sector, which is struggling as, as growth in the world's 2nd largest economy. sputters german industrial giant, siemens doubled, it's net income in the 4th quarter, according to company reports ending its fiscal year with 4400000000 euros and profit strong growth in order in order to help the company raise its profit outlook for the current fiscal year. shares and the company jumped more than 7 percent at the beginning of trading. while workers at more than 100, starbucks stores in the u. s. have gone on strike. they say they're seeking better pay more consistent schedules and more staff for busy stores, stores and $25.00 states planned to take part organizers said it's their largest labor action since a campaign to unionize. starbucks began l

alibaba up 11% the broader signals from beijing provide optimism for investors we will explore that nextwe his. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones ♪♪ i had a bad relationship with my student loan. the interest was costing me... well, us... a fortune. no matter how much we paid it was always just... there. you know? ♪♪ so, i broke up with my bad student loan debt and refinanced with sofi. turns out we could save thousands. break up with bad student loan debt. refi and you could save thousands. plus, we're paying off up to a million dollars of student debt. enter at sofi.com/million sofi get your money right. ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. >>> stocks looking to mount a tuesday turn around. >>> pulling back the curtain on the biggest money managers we are digging into the stocks of warren buffett. >>> and the former president expected to announce his 2024 bid for the white

have very high temperatures, are gonna allow you of pollution and dust adversely affects our hel, alibaba, and can cause rashes, and scars on our bodies. once out of the furnace, the bangles a passed on to all this for design and decoration. it's not uncommon for children to work alongside adults in small, cramped workshops. each piece of the painstakingly crafted accessory also has the human cost. the labor, as hot work has brought success to the industry. but now it's facing unprecedented challenges been, i would have a group yet. the business is growing, but raw materials and natural gas have become expensive. well, young people are studying more and bangles are slowly going out of fashion. somewhat yet eat it. but for now, the craft still has a huge market, especially during festival season. workshops are also adapting by offering custom made accessories in the hope that the future will stay as bright as their traditional bangles. tradition is also keeping a unique practice alive in, in the us, north east, in the thickly forrester than henley state of migalia locals have for years con

hong kong tech sectretor surgin 7% look at alibaba up 7.5%. much more on what is behind the rally coming up. >>> the reserve bank of australia sticking with the approach and hiking the lending rate by 25 basis points. >>> toyota, the world's biggest auto automaker, by sales reporting a drop in profit from the recent quarter and cutting the vehicle output target amid surging material costs and chip shortage the stock down 2%. >>> let's check on early trade in europe. dax up 1%. ftse 100 higher by 1.5%. let's get to some of the morning's top corporate stories with silvana henao >>> seema, good morning. elon musk kicking twitter into second gear pulling more than 50 tesla employees from its auto pilot team to the twitter takeover according to records seen by cnbc, a number of employees from the musk ventures are authorized to work at twitter, including those from the boring company. this amid reports that musk is creating a circle of advisors and employees from the business empire to help reimagine twitter. >>> oil and gas giant bp with third qua

>> for alibaba, it may reported a 4% jump in revenue this quarter.livery, pet food service asia unit lasagna is narrow. china reiterated the covid zero policy will stay with a more targeted approach. investors are trying to gauge their impact to see whether -- buying sentiments and consumer markets are cause logistic disruption. more they are like the sales warriors today. also there earning forecast this time is something we are watching. >> felix tan. for more on the all the corporate results, you can tune into what is coming out next week. our asia earnings week is -- and terminal subscribers can find it there. [indiscernible] breaking news when it comes to this top story we have been tracking which is the fate of ftx. now faking an sec probe. there has been a number of different probes underway already relating to different components of his business operations. this is the latest development. we have seen a number of different developments including ftx reaching a pact allow users to withdraw some of their tokens. we also heard ftx digital marke

the broader market, as you saw, with alibaba up 10%. a reflection of the hopes that that zero-covid policy will be backed off that does it for us on "squawk on the street. "techcheck" starts now. >> good morning. i'm carl quintanilla with john ford cloud week continues on "techcheck." a lineup this morning, servicenow's bill mcdermott with us, plus the chief executives of hpe and intuit on the heels of their results. those are not the only movers. also the big swings in crowdstrike, workday and netapp as we await powell this afternoon. >> yeah, we got a start with the move in crowdstrike though and the ripple effects in the cybersecurity sector look at crowdstrike stock. it was down almost 20% earlier we will take a check in a moment the question is are these results signaling enterprise software is more vulnerable than many thought crowdstrike posted q3 results beating estimates, weaker than expected revenue growth has the stock down, yeah, 19% at the moment and those results also striking others in the cyber crowd setting a 1 and zsca

we will see how it plays out but it is still helping out names like alibaba.eta is up more than 4%. tracking some developments tied to one of the fcc commissioner's who gave an interview to axios where he suggested the idea of a tiktok ban in the u.s. beyond technology, we watch earnings and outlook story. pfizer, a name close to 3%, after some encouraging news attributed to that company with covid vaccine news. kriti: is inflation going to stick around? president biden in the meantime morning oil firms he will seek a tax on windfall profits. he is getting pushback from oil executives. the former bp ceo spoke with us earlier. he was critical of the potential move. >> it is clearly political rhetoric aiming at november 8 with the midterm elections, harsh rhetoric for an oil and gas industry who is probably producing flat out in oil fields and refineries. taking that money and capital, the ceo of exxon reminded that it goes back into dividends, pension funds, but the rhetoric is quite divisive and unhelpful. >> one could say the dividend in your 401(k), but big

last year, e-commerce giant alibaba ran an 11-day extravaganza thatrought in revenue of $80 billion at the time. but this year, consumer spending has stalled as the country's covid policy put the brakes on many activities. infection measures are also affecting logistics and causing delays in the delivery of people's shopping. >>> japan's government is moving forward with plans to open a probe into the religious group formerly known as the unification church. the group is accused of pressuring followers to make large donations and conducting dubious marketing practices known as spiritual sales. culture minister nagaoka keiko said friday that numerous court rulings have acknowledged illegal activities by the religious group and its members, and the government plans to question the group directly. >> translator: we plan to exercise our right to report, collect, and question the former unification church. >> the ministry will swiftly draft the questions and the reasons for asking them. it plans to exercise its right to question religious organizations after consulting this month with a cou

alibaba on pace for the best month in seven years it's now trading to 36 times earnings versus historical sentiment seems to be changing when you look at the stocks but the bigger investors are still cautious >> tim draper, big investor, well-known to our audience big early investor in chinese stocks what he's saying about this rally and what he's saying about just china generally >> the takeaway from tim draper and what he said last night was that he's losing confidence in investing in china this is significant, because he's an early investor in the country, an early investor in ba baidu.com. and it kind of speaks to the overarching trend that we've seen this year, which is investors, the larger ones pivoting away from china, looking for opportunities across asia india has been a big beneficiary, as well we'll see if china's reopening, if this gathers momentum, if that can bring some of these investors back >> seema mody, big story, big country, by the way, china >> world's second largest economy. >> a lot of people there >> a lot going on. seema mody thank you very much. >>> coming up,

as we head to a break, take a look at shares of alibaba which are higher despite a mixed earnings report. the company beat on the bottom line but saw its cloud services revenue grow at its slowest pace on record. more "power lunch" in two minutes. thatto u7%hove sckp , wer. what if you were a major transit system with billions of passengers taking millions of trips every year? you aren't about to let any cyberattacks slow you down. so you partner with ibm to build a security architecture to keep your data, network, and applications protected. now you can tackle threats so they don't bring you to a grinding halt. and everyone's going places, including you. let's create cybersecurity that keeps your business on track. ibm. let's create >>> the closer we get to the holidays, the more questions emerge about the consumer. some retailers saythy expect spending to be strong. others see cracks. so where will the money be spent? on luxury brands like burberry, capistry, or will shoppers look for bargains at polices like dollar tree, costco, and more. here to discuss the outlook is oliver chen, co

you do still have to rely on alibaba for some funding, do you not? >> absolutely.l talk a little bit first on consumer trends. we see very different behaviors. some are positively impacting sales, some negatively impacting sales. on a net-, it is quite positive for example, we actually see higher average order value on a per customer basis, and when you look for into the data, we see a sign stock up. we are looking at a couple of things. one is discounts and the price is good, but given the economic situation, the price of goods have gone up, and many customers are looking to save up during this period of time and to stock up and enjoy that discount for a longer period of time. also, we have seen changes to some of the category mixes. for example, let's say within the beauty category. beauty category, of course, has been fantastic, but looking at which products and which areas, there are big differences. example, last year, skincare was very, very strong. you can imagine, many consumers stayed home and whatnot, but this year, we have seen a great increase in makeup

alibaba is up and paramount global, one of a few stocks investors are excited about based on her chair hathaway and increased stake in that business. kriti: it is a little bit of a rally from the likes of the numbers just mentioned but there is also eco-data. producer price growth took a step down in the latest sign that inflationary pressures are beginning to ease. we break it down more with michael mckee in this follows the cpi report from last week. does this make a trend? michael: i say no because i've been asked that but it is at least some good news that the fed wants to see so it's good news for the markets. on a core level, there is a big difference between prior months and what we saw in october. there is no guarantee that ppi or cpi will continue at the same rate but it is the first hopeful signs we have seen that perhaps the fed is starting to have an impact. jon: based on what the market is thinking in terms of rate moves, what can you say as we move into december and next year? michael: we seem to be locked into the 50 basis points idea for december 14, not only as jeep i